William F. Sharpe is a Nobel Prize-winning economist at Stanford University. He has long been critical of the phony way public pension numbers are reported, hiding the scope of their problems. (See our earlier article linked here about what he and another Nobel economist have said.) Here are two short, simple videos he posted on the subject.
The first is particularly timely because it’s about pension obligation bonds, which Illinois Governor JB Pritzker has proposed using. That’s when the government borrows money to pay down its pension debt:
The second is about pension reporting in general:
–Mark Glennon is founder of Wirepoints.